Jordan: Trade balance with US records surplus of $1bln in 2024
AMMAN: The trade balance with the United States recorded a surplus of JD877 million in 2024, according to foreign trade data released by the Department of Statistics and monitored by the Jordan News Agency, Petra.
The data showed a "significant" increase in Jordan's national exports to the US in 2024, reaching JD2.208 billion compared to JD1.958 billion in 2023, marking an increase of 12.8 per cent.
Jordan's imports from the US amounted to JD1.331 billion in 2024, up from JD1.161 billion in 2023, marking a 14.6 per cent rise.
As a result, the total trade volume between the two countries grew to JD3.539 billion in 2024, compared to JD3.119 billion the previous year.
According to the statistical data, national exports to the US accounted for 25.7 per cent of Jordan's total exports in 2024.
Chairman of the American Chamber of Commerce in Jordan Samer Judeh told Petra that this increase reflects the "success" of Jordanian products in penetrating US markets, benefiting from the free trade agreement between the two countries, which came into full effect in 2010 and has boosted trade volume by more than 800 per cent.
Judeh added that exports and support for national industries are key priorities under Jordan's Economic Modernisation Vision.
He stressed the significant responsibility on industry leaders to formulate policies and coordinate efforts to achieve these goals.
He pointed out that several Jordanian sectors are witnessing a notable growth in exports to the US, leveraging the free trade agreement.
The clothing and accessories sector continues to lead Jordan's exports, thanks to the ease of applying the agreement's rules of origin, which provide Jordanian products with a "strong competitive edge."
Meanwhile, the fertiliser and chemical products sector is experiencing sustained growth, supported by the abundance of natural resources such as phosphate and potash.
Judeh also noted the increasing demand for Jordanian pharmaceutical products in international markets due to their high quality and adherence to the latest global standards.
The jewellery sector has also attracted USconsumers with its innovative designs and exceptional craftsmanship.
Regarding the ICT sector, he highlighted that it is establishing a strong presence in the US market, benefiting from Jordan's thriving entrepreneurial ecosystem.
Jordanian food and animal products have also successfully entered new markets in the US by complying with international manufacturing, packaging, and labelling standards.
© Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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